New government office sitting on $16 billion of potential revenue, says ITS Australia | Smart Highways Magazine: Industry News

New government office sitting on $16 billion of potential revenue, says ITS Australia

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Australia’s newly established Office of Future Transport is holding the key to a $16 billion market, according to ITS Australia. 

That is the projected revenue for intelligent transport technologies such as smart highways and autonomous cars, as well the many other emerging transport technologies.  ITS Australia says future transport and mobility industry is expected to generate more than $16 billion in revenue by 2025.

The organisation says there is “plenty of opportunity” for the Australian ITS industry to lead to the development of automated vehicles and other new technologies that have been described as road safety “game-changers”.

Susan Harris, CEO ITS Australia said, “Australia stands to benefit from the introduction of new transport technologies in many ways. The ITS industry is continually working to deliver safer transport systems, reduce congestion and increase transport options.

“By engaging with the Office for Future Transport Technologies, ITS Australia and the Australian ITS Industry can continue to shape future transport in Australia by working with the Government to identify projects and products that will improve safety, productivity, accessibility and liveability for Australians in both urban and regional areas – the very aspects the Government wishes to address.”

Dean Zabrieszach, President ITS Australia added that “the Australian ITS Industry welcomes the Government decision to establish this Office.

“The industry has been working within guidelines for autonomous and connected vehicles, but the development of nationally consistent regulations that fit with emerging United Nations regulatory developments, including those relating to privacy and data use, will help guide the industry to standards and outcomes that benefit everyone.

“This new Office also provides an ideal structure to support international collaboration on future vehicle technology such as the recent MoU between the Australian Government and the US State of Michigan, in collaboration with ITS Australia that will facilitate future opportunities.”

 
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